Question

Write any two difcereance between porfit and loss account and profit s loss appropriation account

Answer 1

Answer:

following are the 2 differences between profit and loss a/c and profit and loss appropriation a/c

i. Profit and Loss Account is prepared after Trading or Manufacturing Account whereas

Profit and Loss Appropriation Account is prepared after Profit and Loss Account.

ii. Profit and Loss Account is generally prepared by all types of businesses whereas Profit and Loss Appropriation Account is mostly prepared by Partnership Houses.

hope it will help u